Singapore shares are likely to make a cautious start on Wednesday as firmer commodity prices are offset by worries over the U.S. economic outlook and euro zone debt concerns.
Singapore’s benchmark Straits Times Index <.FTSTI> edged 0.08% higher on Tuesday to 3,113.09 points.
Here are some stocks and factors to watch:
Property stocks such as City Developments (CTDM.SI) may be in focus on news that foreigners bought more homes in the first quarter of 2011, a development that may prompt further government measures to cool the housing market. Foreigners snapped up 29% of all private homes sold in Singapore in the first quarter compared with 26% in the preceding quarter according to property consultants DTZ, local media reported on Wednesday.
Shopping mall owner CapitaMalls Asia (CMAL.SI), a unit of Singapore property developer CapitaLand (CATL.SI), said it is converting its China development fund to an income fund and increasing the size by 50% to US$900 million.($1.1 billion)
StarHub (STAR.SI), Singapore’s second-biggest telecom firm, is unlikely to follow larger rival Singapore Telecommunications with a special dividend this year, its chief executive said on Tuesday.
Food, beverage and property conglomerate Fraser and Neave (FRNM.SI) said on Tuesday its hospitality arm Frasers Hospitality had opened a residential building in China’s Suzhou Industrial Park.
Singapore-listed United Envirotech (UNIT.SI) said on Tuesday its net profit for the year ended March 31, 2011, rose 7.8% to $16 million from a year ago, helped by contributions from its engineering and water treatment business.
Beng Kuang Marine (BENK.SI), which provides services to the marine industry, said on Tuesday it had won contracts worth a total of $28.8 million to build four crane barges.
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